According to Defi Pulse, just 1 of the top 10 decentralized exchanges (DEXs) in the entire ecosystem works on different blockchains. This shows that most exchanges operate as islands. However, DEXs can massively provide significant liquidity to improve DeFi services in multiple blockchains.
Consequently, the Hummingbot-Kava Partnership was just announced. In this article, you’ll learn everything about this alliance and other important news of the Kava’s ecosystem.
Hummingbot – Kava Partnership will Integrate Future Decentralized Exchanges.
The Kava protocol was created to enable DeFi features, like borrowing and lending, to be executed in different blockchains. This will automatically accelerate the usage of liquidity of the Kava ecosystem.
However, the only way to massify multi-chain DeFi services is by integrating them into the DEXs liquidity. Consequently, in 2019 Hummingbot, an open-source trading bot project started to connect to over 30 decentralized exchanges (DEXs) and protocols, including Binance, Coinbase, FTX, Ethereum, Uniswap, etc.
Therefore, the Hummingbot-Kava partnership was created to drive massive liquidity to DeFi protocols in the Kava’s ecosystem.
Learn about the Kava and @hummingbot_io partnership 🧵 pic.twitter.com/iR1F3Kr9yF
— Kava (@KAVA_CHAIN) October 26, 2021
This partnership will allow Hummingbot’s users to execute automated trades in Kava’s AMMs like KavaSwap. As a result, this partnership will give the following benefits:
- Increase KavaSwap’s liquidity to generate rewards on Kava Swap.
- Faster trades.
- Lower price slippage.
- Better trading experience.
- Another monetization alternative for tokens on Kava’s ecosystem.
- Boost liquidity on Hummingbot-connected exchanges.
Scott Stuart, CEO of Kava Labs, said: “The Kava Ignition Fund is all about accelerating the usage and liquidity of the Kava Ecosystem. Humming bot is the largest distributed liquidity provider in crypto. We’re thrilled to sign them on and create a custom connection of Hummingbot Gateway to the Kava ecosystem, driving liquidity to every financial protocol that launches on Kava.”
Finally, Hummingbot will support Kava’s DEXs such as Cosmostation Stable Swap.
The Kava 9 Mainnet Upgrade.
The Kava 9 Mainnet upgrade will add new ways to bring digital assets to Kava’s ecosystem. Also, this release will upgrade the 44th version of the Cosmos SDK. This will implement the Inter-Blockchain Communication Protocol (IBC).
This mainnet upgrade will launch between Q4-2021 to Q1-2022.
The Kava 9 mainnet upgrade is underway and scheduled for late Q4 2021 to Q1 2022.
Learn more: https://t.co/n4xJ6iblX9
— Kava (@KAVA_CHAIN) October 26, 2021
Therefore, these are the seven benefits of the Kava 9 mainnet upgrade:
- IBC Integration: Integrate safely and begin connecting to the Cosmos network Without putting users in danger. Also, this will let users move $KAVA, $HARD, and $SWP on other chains, creating new earning opportunities for Kava’s users.
- IBC Asset Earnings: Earn rewards in the Mint, Lend, and Swap processes. This includes $ATOM, $OSMO, $AKT, and many more tokens.
- Kava Rewards: Releasing rewards to $KAVA stakers will allow companies to raise funds and boost brand recognition. In the same way, Kava may incentivize particular Swap pools to disperse new assets and speed up liquidity for new initiatives.
- New ETH Bridge Infrastructure: This will enable mint/burn wrapped ERC-20 and whitelist tokens, control deposit limits. The first milestone will be on the ETH-USDC bridge.
- Guaranteed Transactions: Execute Queues transactions according to previously paid fees. This will defend against zero-fee spam hacks and allow users with important transaction needs to pay a slightly higher price to have their transactions prioritized.
- Keplr Wallet Support: This upgrade will enable support for Keplr Wallet, which is the primary wallet for IBC-enabled assets. Therefore, Keplr will also provide permissionless, fast wallet and transaction signing.
- Other Devs tools: Easy integration with third-party apps and improved upgrade modules.
More about Kava
On the other hand, Kava is launching a USD 185 million fund to drive the development of the Kava Ecosystem. According to the annoucement, The goal is to convert Kava into the world’s most secure and scalable DeFi platform.
Kava is launching the $185M Ignition Fund to drive the development of the Kava Ecosystem – a safe, truly scalable home for the next wave of DeFi users.
Learn more https://t.co/ZLUMA49qvn pic.twitter.com/QJ14lObmLG
— Kava (@KAVA_CHAIN) September 22, 2021
Finally, We hope you’ve enjoyed everything about the Hummingbot-Kava Partnership. For more information just visit Kava’s website.
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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Kava. Copyright Altcoin Buzz Pte Ltd.
